Tenaris SA (NYSE: TS – RATED) – Equity researchers at Jefferies Financial Group raised their fiscal 2022 earnings per share forecast for Tenaris stock in a report released Thursday, July 7.Jefferies Financial Group analyst A. Spence now expects the industrial products company to post earnings of $3.84 a share this year, up from their previous estimate of $3.57.Jefferies Financial Group has a Buy rating on the stock and a $46.00 price target.The current consensus estimate for Tenaris’ full-year earnings is $3.64 per share.Tenaris (NYSE: TS – Get Rating) released its quarterly earnings results on Wednesday, April 27.The industrial products company reported earnings per share of $0.85 for the quarter, beating the consensus estimate of $0.68 by $0.17.Tenaris’ return on equity was 12.38% and its net profit margin was 19.42%.The company’s revenue for the quarter was $2.37 billion, compared with analysts’ expectations of $2.35 billion.
Other analysts have recently released research reports on the company.In a report on Monday, March 14, Wolfe Research upgraded Tenaris to a “peer perform” rating from “underperform” and raised its price target on the company to $43.00 from $38.00.StockNews.com began covering Tenaris in a research note on Thursday, March 31.They have a “buy” rating on the stock.Morgan Stanley raised its price target on Tenaris to $38.00 from $32.00 and gave the company an “overweight” rating in a research note on Monday, April 11.Barclays raised its price target on Tenaris to $42.00 from $32.00 in a research note on Monday, May 9.Finally, Credit Suisse raised its price target on Tenaris to 8.80 euros ($9.17) from 8.20 euros ($8.54) and gave the company an “underperform” rating in a research note on Monday, April 4.Two investment analysts have a sell rating on the stock, one has a hold rating and eight have a buy rating on the company’s stock.Tenaris has a “Moderate Buy” consensus rating and an average price target of $32.98, according to MarketBeat.
NYSE: TS opened Friday at $24.90.The business’s 50-day moving average is $30.06 and its 200-day moving average is $27.82.Tenaris had a 12-month low of $18.80 and a 12-month high of $34.76.The stock has a market cap of $14.7 billion, a price-to-earnings ratio of 9.80, a PEG ratio of 0.24, and a beta of 1.57.
The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, June 1.Shareholders of record on Tuesday, May 24 received a dividend of $0.56 per share.The ex-dividend date is Monday, May 23.Tenaris’ payout ratio is 44.09%.
Institutional investors have recently bought and sold the company’s stock.Fifth Third Bancorp purchased new shares of Tenaris for $55,000 in the fourth quarter.Pendal Group Ltd purchased new shares in Tenaris for $351,823,000 in the first quarter.Fox Run Management LLC purchased new shares of Tenaris for $296,000 in the fourth quarter.Bessemer Group Inc. increased its holdings of Tenaris shares by 194.7% in the fourth quarter.Bessemer Group Inc. now owns 2,405 shares worth $50,000 in the industrial products company after acquiring an additional 1,589 shares during the period.Finally, the New York State Common Retirement Fund increased its holdings of Tenaris shares by 51.3% in the fourth quarter.The New York State Common Retirement Fund now owns 100,247 shares of the industrial products company’s stock, valued at $2,091,000, after purchasing an additional 34,000 shares during this period.8.47% of the stock is held by institutional investors and hedge funds.
Tenaris SA and its subsidiaries manufacture and sell seamless and welded steel pipe products; and provide related services to the oil and gas industry and other industrial applications.The company provides steel casing, tubing products, mechanical and structural tubing, cold drawn tubing, and premium fittings and fittings; coiled tubing products for oil and gas drilling and workover and subsea pipelines; and umbilical products; and tubular fittings.
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